Destination XL Group’s (DXLG) “Buy” Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of Destination XL Group (NASDAQ:DXLG – Free Report) in a report published on Wednesday morning,Benzinga reports. DA Davidson currently has a $1.50 target price on the stock.

Destination XL Group Price Performance

Shares of NASDAQ:DXLG opened at $0.71 on Wednesday. The firm has a fifty day moving average price of $0.57 and a two-hundred day moving average price of $0.75. Destination XL Group has a one year low of $0.44 and a one year high of $1.69. The company has a market cap of $38.92 million, a price-to-earnings ratio of -1.08 and a beta of 1.23.

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Destination XL Group (NASDAQ:DXLG – Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Destination XL Group had a negative net margin of 8.25% and a negative return on equity of 8.96%. The firm had revenue of $112.10 million during the quarter, compared to the consensus estimate of $112.32 million.

Institutional Trading of Destination XL Group

A number of hedge funds have recently made changes to their positions in the stock. Cibc World Markets Corp bought a new stake in shares of Destination XL Group during the 4th quarter worth $313,000. Prescott Group Capital Management L.L.C. bought a new stake in shares of Destination XL Group during the 4th quarter worth $1,589,000. CIBC Bancorp USA Inc. bought a new stake in shares of Destination XL Group during the 3rd quarter worth $445,000. Nantahala Capital Management LLC lifted its holdings in shares of Destination XL Group by 74.8% during the 3rd quarter. Nantahala Capital Management LLC now owns 4,505,000 shares of the company’s stock worth $5,902,000 after acquiring an additional 1,928,226 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Destination XL Group by 47.8% during the 3rd quarter. Bank of America Corp DE now owns 63,384 shares of the company’s stock worth $83,000 after acquiring an additional 20,490 shares during the last quarter. 73.49% of the stock is owned by institutional investors.

About Destination XL Group

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Destination XL Group, Inc (NASDAQ: DXLG) is a specialty retailer focused on big and tall men’s apparel and accessories. Operating under its flagship DXL and Casual Male XL banners, the company offers an assortment of men’s clothing in larger sizes, including suits, dress shirts, casual wear, outerwear, activewear and underwear. In addition to its brick-and-mortar stores, Destination XL maintains a significant omnichannel presence through its e-commerce platform and direct mail catalog, enabling customers to shop for extended-size apparel across North America.

Founded in 1976 and headquartered in Canton, Massachusetts, the company began its operations as Casual Male XL and over time evolved its retail concept to the Destination XL format, which emphasizes an elevated, destination-style shopping experience.

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